During the trading seminar last week, we had a very diverse trading group. We had a couple of traders that had worked in the industry as market movers, who were now trying to become personal traders. We had some new traders and some who had been in the markets for many years and needed to hone their skills. We even had traders who had been through the trading seminar before and came back to improve their basic chart reading skills.
Trading Seminar Teaches You How to Anticipate Your Trade Setups
However, they were all amazed to learn that they could actually calculate when a potential trade was coming in by simply understanding volume analysis and the THD indicators. In fact, several times during the trading seminar, students actually learned to take breaks in their trading day because they knew a trade was not ready to enter. Then when the time was near, they resumed their trading and, on Monday, the class was able to actually take over 120 ticks out of the market. Their total trading time was only about 45 minutes. The rest of the time was filled with analyzing different timeframes, studying, and, of course, taking breaks to go for short walks. What a difference they had in their trading day because they could anticipate when the trade was coming in. By taking breaks, they did not force trades that were not ready. They didn’t waste trades, instead they focused on precision entry points that had high probabilities.
While Gail was away, Rick moderated the trading room and still managed to trade the Nasdaq for a total of 83 ticks within two days. Again, it is not about how many trades we can enter. Instead, we focus on the highest probability trade setups.
9-25-2012: With volume techniques taught at the “Master The Trade” & “Advanced” Seminars using higher timeframes I saw that the market had a high probability of going short. Then using the 3 minute chart I entered a short trade @ 11:18 PST @ 2834.00 with a 9 tick stop. I then hit the 1st profit target @ 2829.50 and moved my stop to 2833.50. Price continued to fall giving me my second profit target @ 2825.00 where I moved my stop to my 1st profit target. Price continued to fall & hit my 3rd profit target of 2816.00 where I exited the trade with 72 ticks of profit.
9-26-2012: Utilizing techniques taught at the “Advanced” Seminar using higher timeframes and volume I saw that the market had a high probability of going long. Then using the 3 minute chart I entered a long trade @ 8:39 PST @ 2771.75 with a 9 tick stop. I then hit the 1st profit target of 2776.25 and moved my stop to 2772.25. Price came within 3 ticks of my 2nd profit target but then pulled back to my stop having me exit the trade with 11 ticks of profit.